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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYA strong week for both the U.S. stock market and the dollar. The Dow Jonesindustrial average climbed four days straight, closing at a record 8775.4 onMar. 18. Brokerage stocks led the gain, spurred by speculation that MerrillLynch & Co. may be acquired by Chase Manhattan Corp. Oil company shares werepropelled by rising crude prices. Meanwhile, the dollar rose to a two-monthhigh against the yen. U.S. bond prices fell on Mar. 18, out of concern that theeconomy has shown no signs of slowing down.

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 8775.4 1.1 27.6

NASDAQ Combined Composite 1788.3 1.8 43.1

S&P MidCap 400 365.0 1.3 41.0

S&P SmallCap 600 197.2 0.8 39.8

S&P SuperComposite 1500 232.8 1.5 38.5

% change

SECTORS Latest Week Year

Bloomberg Information Age 326.4 2.1 42.0

S&P Financials 134.1 3.5 47.7

S&P Utilities 242.2 2.0 25.6

PSE Technology 339.4 2.3 40.7

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 5903.6 1.3 36.3

Frankfurt (DAX) 4919.7 1.8 48.4

Tokyo (NIKKEI 225) 16,619.7 -0.8 -10.1

Hong Kong (Hang Seng) 11,121.7 0.0 -12.1

Toronto (TSE 300) 7426.8 1.1 22.0

Mexico City (IPC) 4844.4 2.2 25.3

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.43 % 1.44 % 1.86 %

S&P 500 P/E Ratio (Last 12 mos.) 27.1 26.5 20.8

S&P 500 P/E Ratio (Next 12 mos.)* 21.3 20.9 16.6

First Call Earnings Revision* -3.51 % -3.88 % -1.08 %

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 951.2 945.6 Positive

Stocks above 200-day average 66.0 % 67.0 % Neutral

Options: Put/call ratio 0.54 0.57 Negative

Insiders: Vickers Sell/buy ratio 2.01 1.69 Neutral

BEST-PERFORMING Last Last 12

GROUPS month% months%

Pollution Control 22.0 Homebuilding 93.6

Invest. Banking/Brkrge. 18.6 Broadcasting 83.5

Homebuilding 17.1 Specialty Appar. Retailers 82.0

Engineering & Constr. 16.8 Invest. Banking/Brkrge. 81.5

Steel 14.9 Communications Equip. 74.6

WORST-PERFORMING Last Last 12

GROUPS month% months%

Semiconductors -9.9 Metals -36.7

Computer Systems -4.5 Gold Mining -34.3

Photography/Imaging -4.5 Shoes -30.3

Manufactured Housing -3.9 Photography/Imaging -24.0

Oil-Well Equip. & Svcs. -1.3 Hospital Management -14.0

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

IBM 100 7/8 -1 7/8

Exxon 62 15/16 -7/8

Micron Technology 32 -3

Texas Instruments 55 3/8 -1 1/8

Ascend Communications 33 1/32 -1 1/32

Sun Microsystems 43 29/32 -1 15/32

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Microsoft 80 3/8 3 1/16

Dell Computer 62 5/16 5 23/32

WorldCom 42 59/64 4 35/64

Pfizer 89 3/8 3

PeopleSoft 49 1/2 8 1/16

Qwest Communications Intl. 39 5/8 5 3/16

Data: Bloomberg Financial Markets; *First Call Corp.

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.12 5.13 4.96

90-DAY TREASURY BILLS 5.14 5.09 5.29

6-MONTH BANK CDS 5.07 5.08 5.04

1-YEAR TREASURY BILLS 5.33 5.37 5.79

10-YEAR TREASURY NOTES 5.57 5.63 6.74

30-YEAR TREASURY BONDS 5.91 5.93 6.99

LONG-TERM AA INDUSTRIALS 6.48 6.51 7.47

LONG-TERM BBB INDUSTRIALS 6.95 6.98 7.81

LONG-TERM AA TELEPHONES 6.78 6.82 7.67

BLOOMBERG MUNI YIELD EQUIVALENTS

Taxable equivalent yields on AAA-rated, tax-exempt municipal bonds,

assuming a 31% federal tax rate.

10-yr. bond 30-yr. bond

Latest Last Latest Last

week week week week

GENERAL OBLIGATIONS 4.42% 4.44% 5.02% 5.04%

PERCENT OF TREASURIES 79.36 78.86 85.02 84.89

TAXABLE EQUIVALENT 6.41 6.43 7.28 7.30

INSURED REVENUE BONDS 4.54 4.58 5.18 5.24

PERCENT OF TREASURIES 81.51 81.35 87.73 88.26

TAXABLE EQUIVALENT 6.58 6.64 7.51 7.59

EQUITY FUNDS

Leaders Laggards

Four-week total return % Four-week total return %

Matthews Korea I 29.0 Lexington Strategic Silver -10.3

Weitz Hickory 14.2 Frontier Equity -9.3

Pioneer Europe A 13.6 Lexington Strat. Invmnts. -8.9

Nicholas-Apple. Intl. S.C. Inst. 13.2 Oppenheimer Real Asset C -8.4

Principal Spec. Intl. Mkts. S.C. 13.1 American Heritage -7.4

Leaders Laggards

52-week total return % 52-week total return %

Delaware Aggressive Gr. A 85.1 Midas -61.5

Munder Micro-Cap Eqty. Y 77.5 U.S. Global Investors Gold -59.8

FMI Focus 75.7 Invesco Strategic Gold -57.7

Brazos/JMIC Small Cap Gr. 68.7 Bull & Bear Gold Investors -57.6

Fidelity Sel. Brokerage 68.2 Gabelli Gold -52.0

EQUITY FUND CATEGORIES

Leaders Laggards

Four-week total return % Four-week total return %

Communications 9.4 Japan -2.4

Europe 9.2 Precious Metals -1.9

Financial 7.1 Real Estate -1.5

Foreign 7.0 Natural Resources 0.5

Latin America 6.9 Diversified Pacific/Asia 1.9

Leaders Laggards

52-week total return % 52-week total return %

Communications 49.7 Precious Metals -42.9

Financial 46.5 Pacific/Asia ex-Japan -33.4

Unaligned 37.4 Diversified Pacific/Asia -23.2

Large-cap Growth 37.2 Diversified Emerging Mkts. -10.3

Small-cap Blend 34.9 Japan -6.7

All data are as of market close Wednesday, Mar. 18, 1998, unless otherwise

indicated. Industry groups include S&P 500 companies only. Fundamentals,

technical indicators, Bloomberg money flow analysis, and mutual fund returns

are as of Mar. 17. For a more detailed explanation, write to us or E-mail

figures@businessweek.com. NA=Not available **Vanguard Index 500 Fund

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